Mo’ Money…No Problems

Let me the set the scene for you. It was 2008. I had just graduated from Cornell University, moved to New York City and started my new career as a Human Capital Analyst with Lehman Brothers. The sun was shining, birds were singing, and I was a 21 year old woman ready to take over the world. Sure there were a few pesky rumors of LB’s demise…but it didn’t seem prudent to concern myself with such nonsense. It was Lehman Brothers. The company was too big to fail.

That all changed within a month. As they say, things went awry. Horribly awry. The layoffs seemed endless and my dream job with my dream company became a dream case study for business schools. I watched hundreds of people walk out of the building clutching their severance package letter as if it was all they had left…because it was.

Barclays Capital bought the company and those of us who survived the last round of layoffs took a collective sigh of relief. Nevertheless, the experience taught me two things:

  1. I alone was responsible for the success of my HR career.

  2. It didn’t make sense to have my paycheck come from just one source. I had to develop multiple income streams.

Of course, there are different types of streams. Some are active (traditional careers, small business pursuits, etc.) and some are passive (real estate investments, affiliate marketing, etc.). Today I want to talk about the active income streams. They require your physical presence and consistent engagement in order to generate a paycheck. Currently, I have the following:

Main Stream: HR Manager at PepsiCo

Side Stream: Life and Career Coach

Luckily for me – I love all my streams! And I think I do a pretty good job of managing them along with everything else going on in my life. But if someone is experimenting with this approach for the first time, it can be difficult to stay on top of it all. This is especially true for people who want to have successful careers with their current companies, but have also decided to take on additional pursuits.

I’ll get to the point. You don’t want your side stream to jeopardize the success of your career. Fair or not, once you publicize it, the senior leaders who are in charge of approving your next promotion or assignment will likely take your extra activities into consideration. They may question your dedication, your motives and your career goals.